30 Day Notice

Federal Register / Vol. 89, No. 172 / Thursday, September 5, 2024 / Notices

72599

TABLE 4—PERFORMANCE—Continued
Internal hour
burden
Total burden per adviser ......................................................
Total number of affected advisers .......................................
Sub-total burden ...................................................................

3.5
× 1,407
4,924.5

Internal time
costs

Wage rate 1
......
......
......

11

.................................................................
.................................................................
.................................................................

Annual external
cost burden

$1,421
× 1,407
$1,999,347

............................
............................
............................

$184,521,635

$5,592,032

TOTAL ESTIMATED TIME BURDEN FOR PERFORMANCE REQUIREMENTS
445,173

......

.................................................................

Notes:
1 See SIFMA Report, supra footnote 8.

Total Hour Burden Associated With
Rule 206(4)–1

external burden costs would be
$5,974,582. The following chart
summarizes the various components of
the total annual burden for investment
advisers.

registered with the Commission under
proposed rule 206(4)–1 to prepare
testimonials and endorsements, thirdparty ratings, and performance results
disclosures will be 595,210 hours, at a
time cost of $219,833,026. The total

Accordingly, we estimate the total
annual hour burden for investment
advisers registered or required to be

TABLE 5—TOTALS

khammond on DSKJM1Z7X2PROD with NOTICES

Internal hour
burden

Internal burden
time cost

External cost
burden

General Prohibitions ................................................................................................................
Testimonials and Endorsements .............................................................................................
Third-Party Ratings ..................................................................................................................
Performance ............................................................................................................................

93,330
54,927
1,780
445,173

$12,288,450
22,300,362
722,579
184,521,635

........................
$382,550
........................
5,592,032

Total annual burden .........................................................................................................

595,210

219,833,026

5,974,582

Cost burden is the cost of goods and
services purchased to comply with rule
206(4)–1, such as legal and accounting
services. The cost burden does not
include the hour burden discussed in
above. Estimates are based on the
Commission’s examination and
oversight experience. As summarized in
Table 5 above, we estimate the total
external cost per all advisers per year to
be $5,974,582, with the total per adviser
per year to be $384.32
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice by October 7, 2024 to (i)
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov and (ii) Austin Gerig,
Director/Chief Data Officer, Securities
and Exchange Commission, c/o
Oluwaseun Ajayi, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: [email protected].
32 This estimate is based upon the following
calculations: $5,974,582 (total annual external cost
burden)/15,555 (number of advisers) = $384.

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22:19 Sep 04, 2024

Jkt 262001

Dated: August 30, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–19959 Filed 9–4–24; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–269, OMB Control No.
3235–0276]

Submission for OMB Review;
Comment Request; Extension: 6c–7
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission (the
‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
Rule 6c–7 (17 CFR 270.6c–7) under
the Investment Company Act of 1940
(15 U.S.C. 80a–1 et seq.) (‘‘1940 Act’’)
provides exemption from certain
provisions of Sections 22(e) and 27 of
the 1940 Act for registered separate
accounts offering variable annuity

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Sfmt 4703

contracts to certain employees of Texas
institutions of higher education
participating in the Texas Optional
Retirement Program. There are
approximately 129 registrants governed
by Rule 6c–7. The burden of compliance
with Rule 6c–7, in connection with the
registrants obtaining from a purchaser,
prior to or at the time of purchase, a
signed document acknowledging the
restrictions on redeem ability imposed
by Texas law, is estimated to be
approximately 3 minutes per response
for each of approximately 5,900
purchasers annually (at an estimated
$84 per hour),1 for a total annual burden
of 295 hours (at a total annual cost of
$24,780).
Rule 6c–7 requires that the separate
account’s registration statement under
the Securities Act of 1933 (15 U.S.C. 77a
1 $84/hour figure for a Compliance Clerk is based
on the Commission’s estimates concerning the
allocation of burden hours and the relevant wage
rates from the Commission’s consultations with
industry representatives and on salary information
for the securities industry compiled by the
Securities Industry and Financial Markets
Association’s Office Salaries in the Securities
Industry 2013; the estimated wage figures are
modified by Commission staff to account for an
1800-hour work-year and multiplied by 2.93 to
account for bonuses, firm size, employee benefits,
overhead, and adjusted to account for the effects of
inflation; see Securities Industry and Financial
Markets Association, Report on Management &
Professional Earnings in the Securities Industry
2013.

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72600

Federal Register / Vol. 89, No. 172 / Thursday, September 5, 2024 / Notices

khammond on DSKJM1Z7X2PROD with NOTICES

et seq.) include a representation that
Rule 6c–7 is being relied upon and is
being complied with. This requirement
enhances the Commission’s ability to
monitor utilization of and compliance
with the rule. There are no
recordkeeping requirements with
respect to Rule 6c–7.
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act, and is not
derived from a comprehensive or even
a representative survey or study of the
costs of Commission rules or forms. The
Commission does not include in the
estimate of average burden hours the
time preparing registration statements
and sales literature disclosure regarding
the restrictions on redeemability
imposed by Texas law. The estimate of
burden hours for completing the
relevant registration statements are
reported on the separate PRA
submissions for those statements. (See
the separate PRA submissions for Form
N–3 (17 CFR 274.11b) and Form N–4 (17
CFR 274.11c).
Complying with the collection of
information requirements of the rules is
necessary to obtain a benefit. An agency
may not conduct or sponsor, and a
person is not required to respond to, a
collection of information unless it
displays a currently valid control
number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice by October 7, 2024 to (i)
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov and (ii) Austin Gerig,
Director/Chief Data Officer, Securities
and Exchange Commission, c/o
Oluwaseun Ajayi, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: [email protected].
Dated: August 30, 2024.
Sherry R. Haywood,
Assistant Secretary.
BILLING CODE 8011–01–P

22:19 Sep 04, 2024

[Release No. 34–100873; File No. SR–
PEARL–2024–35]

Self-Regulatory Organizations; MIAX
PEARL, LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Establish Fees for
Industry Members Related to
Reasonably Budgeted Costs of the
National Market System Plan
Governing the Consolidated Audit Trail
for the Period From July 16, 2024
Through December 31, 2024
August 29, 2024.

Pursuant to Section 19(b)(1) under the
Securities Exchange Act of 1934 (the
‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
19, 2024, MIAX PEARL, LLC (‘‘MIAX
Pearl’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) a proposed rule change
as described in Items I and II below,
which Items have been prepared by the
Exchange. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing a proposal to
amend the fee schedule (the ‘‘Fee
Schedule’’) applicable to MIAX Pearl
Equities, an equities trading facility of
the Exchange, to establish fees for
Industry Members 3 related to
reasonably budgeted CAT costs of the
National Market System Plan Governing
the Consolidated Audit Trail (the ‘‘CAT
NMS Plan’’ or ‘‘Plan’’) for the period
from July 16, 2024 through December
31, 2024. These fees would be payable
to Consolidated Audit Trail, LLC (‘‘CAT
LLC’’ or the ‘‘Company’’) and referred to
as CAT Fee 2024–1, and would be
described in a section of the Exchange’s
fee schedule entitled ‘‘Consolidated
Audit Trail Funding Fees.’’ The fee rate
for CAT Fee 2024–1 would be
$0.000035 per executed equivalent
share. CAT Executing Brokers will
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 An ‘‘Industry Member’’ is defined as ‘‘a member
of a national securities exchange or a member of a
national securities association.’’ See Miami
International Securities Exchange LLC (‘‘MIAX
Rule’’) Rule 1701(u). The Exchange notes that MIAX
Chapter XVII is incorporated by reference into the
Exchange’s rulebook. As such, MIAX Chapter XVII
also applies to the Exchange. See also Section 1.1
of the CAT NMS Plan. Unless otherwise specified,
capitalized terms used in this rule filing are defined
as set forth in the CAT NMS Plan and/or the CAT
Compliance Rule. See MIAX Rule 1701.
2 17

[FR Doc. 2024–19903 Filed 9–4–24; 8:45 am]

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receive their first monthly invoice for
CAT Fee 2024–1 in October 2024
calculated based on their transactions as
CAT Executing Brokers for the Buyer
(‘‘CEBB’’) and/or CAT Executing
Brokers for the Seller (‘‘CEBS’’) in
September 2024.
The text of the proposed rule change
is available on the Exchange’s website at
https://www.miaxglobal.com/markets/
us-equities/pearl-equities/rule-filings, at
MIAX Pearl’s principal office, and at the
Commission’s Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
On July 11, 2012, the Commission
adopted Rule 613 of Regulation NMS,
which required the self-regulatory
organizations (‘‘SROs’’) to submit a
national market system (‘‘NMS’’) plan to
create, implement and maintain a
consolidated audit trail that would
capture customer and order event
information for orders in NMS securities
across all markets, from the time of
order inception through routing,
cancellation, modification or
execution.4 On November 15, 2016, the
Commission approved the CAT NMS
Plan.5 Under the CAT NMS Plan, the
Operating Committee has the discretion
to establish funding for CAT LLC to
operate the CAT, including establishing
fees for Industry Members to be assessed
by CAT LLC that would be implemented
on behalf of CAT LLC by the
Participants.6 The Operating Committee
adopted a revised funding model to
fund the CAT (‘‘CAT Funding Model’’).
On September 6, 2023, the Commission
approved the CAT Funding Model after
4 Securities Exchange Act Rel. No. 67457 (July 18,
2012), 77 FR 45722 (Aug. 1, 2012).
5 Securities Exchange Act Rel. No. 79318 (Nov.
15, 2016), 81 FR 84696 (Nov. 23, 2016) (‘‘CAT NMS
Plan Approval Order’’).
6 Section 11.1(b) of the CAT NMS Plan.

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